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Discussion Starter · #1 ·
I was under the impression that when you finance the purchase of a vehicle, the finance company will require that the vehicle is insured... so that if the vehicle is wrecked, they will still get their money. The "vehicle" in question here would be a quad. I don't know from financing because I've always paid cash... truck (new) and my quads. I just ALWAYS insure my quad because it represents such a big chunk of money and it's so easy to have a bad crash that trashes the quad.

A tale told to me over the weekend at the SCCS race was... A guy was doing a hill climb at one of the SVRAs here in Calif on his brand new yfz450x (2 weeks old) lost it, and his quad went end over end about 300' down the hill... destroyed. He was in tears because he hadn't even made the first payment yet on a zero down deal and he didn't have insurance. Does this sound right?
The quad is the collateral for the loan and it seems to me that they'd want their collateral protected.

roadkill
 

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Its a must for that have a streetlegal + that they get easily stolen here.
+ if i crash it i get a brand new one. or money back atleast!
Or for the very best get it fixed at the dealer.
 

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I have had a few loans for quads or dirt bikes over the years and I have never been required to carry insuarance on any of them. I don't think they are really looked at as "collateral" loans. Sure if you default on them they will come and try to take the quad/bike back, if they can get it, but more then likely they will just send you to collections to get their money from you. I don't now why a quad/bike is different from a car or truck, but I have never heard of anyone having to insure there quad/bike because the bank required it.

Doug
 

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I had my xx financed through Honda and they did not require insurance.
 

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One big reason for auto insurance is for other drivers. It isn't just so that you can finance your car. If you pay cash, you still have to have insurance, unless you have enough money to cover any damages that may occur to anyone else on the road, including them suing you and stuff. For a quad, there is considering less accidents where people harm others, so that is one reason.
 

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I had my xx financed through Honda and they did not require insurance.
Same here in Ohio, and dealer didn't even mention insurance. I do have full coverage on mine, including atv trailer.
 

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Discussion Starter · #12 ·
Thanks all.

I think it's just stupid NOT to insure.

roadkill
 
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